Traders Start Longing Cardano ($ADA) Over Other Altcoins, Here’s Why

Published by
Traders Start Longing Cardano ($ADA) Over Other Altcoins, Here’s Why

Cardano ($ADA), the fourth-largest cryptocurrency by market cap seems to have lost market momentum post its Alonzo upgrade in September. The smart contract integration was seen as a key catalyst to its price as $ADA rose to a new all-time high of $3.10 in the run-up to the upgrade. Even though the upgrade made Cardano a Defi and NFT hub, its price hasn’t made much progress since then.

$ADA is currently trading at $2.13 with a 1% loss over the last 24-hours, the altcoin price has fluctuated in the range of $2.10-$2.70 since September. At present Bitcoin is leading the market rally with eyes set of new ATH, while altcoins seem to be in a consolidation phase.  Historically, the real altcoin bull run begins when the $BTC market tops as seen in April-May when the majority of the altcoins hit new ATH.

Source: TradingView

The market sentiment towards altcoins looks stable at present, but recent data from Santiment indicate an unusual rise in interest of traders for $ADA, something that was seen during the Alonzo hardfork.

Advertisement

Can Cardano Make a Turn-Around?

Cardano’s social media mentions went through the roof during the Alonzo upgrade, but the hype died down with the successful completion of the upgrade. Many critics believe the September high was the top for the altcoin, however, new data shows traders on Binance is longing $ADA more than other altcoins showing a bullish sentiment in the making.

Source: Santiment

The sharp rise in long position is often followed by a bullish price rally for the altcoin and if the trader’s interest continues to mount, it could build a bullish momentum strong enough to help it record new ATHs.

The altcoin had quite a phenomenal year until now having broken into top-3 crypto rankings and currently sitting at third. $ADA with its new decentralized ecosystem is expected to become the go-to option for Defi and NFTs due to the scalability and security that Cardano offers.

Advertisement

Share
Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

VanEck Registers Lido Staked Ethereum Trust in Delaware, LDO Up 7%

VanEck has formally registered its VanEck Lido Staked Ethereum ETF in Delaware. If approved, this…

October 3, 2025
  • 24/7 Cryptocurrency News

Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks

Federal Reserve Bank of Dallas President Lorie Logan is the latest Fed official to share…

October 3, 2025
  • 24/7 Cryptocurrency News

Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury

Australia’s Fitell Corporation has purchased 216.8 million PUMP tokens for $1.5 million. The Nasdaq-listed company…

October 3, 2025
  • 24/7 Cryptocurrency News

FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading

FG Nexus has announced that it will allow shareholders to convert common stock into tokenized…

October 2, 2025
  • Bitcoin News

Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000

JPMorgan says Bitcoin (BTC) is undervalued compared to gold and could rise to $165,000, giving…

October 2, 2025
  • 24/7 Cryptocurrency News

Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand

Derivatives exchange CME Group has announced plans to begin offering 247/7  crypto futures and options…

October 2, 2025